Riyad Bank considering IPO of its investment banking unit

Riyad Bank considering IPO of its investment banking unit

RIYADH: Saudi Arabia’s Riyad Bank has approved the assessment and preparation of an initial public offering of its investment banking unit, Riyad Capital. 

According to a Tadawul statement, the board of directors are considering listing the subsidiary on the main market of the Saudi Exchange. 

“Riyad Bank and Riyad Capital will coordinate to finalize the assessment as well as the relevant measures including determining the offering size as well as the other related details,” said the financial institution in the statement.  Riyad Bank considering IPO of its investment banking unit